MUMBAI – Triggered by local car maker Tata Motors Ltd. and spurred by Renault SA-Nissan Motor Co. Ltd. CEO Carlos Ghosn, the concept of inexpensive cars and minitrucks is taking hold here. Tata is targeting the bottom of the pricing pyramid in Asia, Africa and South America with its so-called “one-lakh” car, expected to retail for about Rs100,000 ($2,500). Tata, which detailed its plans at the Geneva auto show in March, says the inexpensive model will be a steel-bodied, single-box, ...

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